249 observations · 205 reports · 6 publishers

CAC Payback Period.

Every CAC Payback Period observation from our practitioner benchmark corpus. Latest: Clouded Judgement (2026).

← All benchmark reports
Observations
249
Reports
205
Publishers
6
Latest
Clouded Judgement
2026-03-27
33 months
Clouded Judgement
2026
median
Public SaaS companies
Clouded Judgement: From GPU Hours to Token Dollars—Pricing AI Infrastructure for the Inference Era →
33 months
Clouded Judgement
2026
median
Public SaaS companies in index
Clouded Judgement: Digital Twins as the Infrastructure Layer for AI Agents →
34 months
Clouded Judgement
2026
median
SaaS public companies
Clouded Judgement: In Defense of Model Lab Profitability →
34 months
Clouded Judgement
2026
median
Cloud SaaS companies
Get in the Token Path: Infrastructure Monetization in the AI Era →
34 months
Clouded Judgement
2026
median
SaaS public companies
Clouded Judgement: The Poison of Inertia →
20.0 months
OnlyCFO
2026
median
Public software companies as of 2026
Praying for Distribution | AI Changes the Math →
11.0 months
OnlyCFO
2026
median
Public software companies 3-4 years prior to 2026
Praying for Distribution | AI Changes the Math →
36 months
Clouded Judgement
2026
median
SaaS companies in Jamin Ball's quarterly report sample
Clouded Judgement: The SSD/Memory Reckoning →
36 months
Clouded Judgement
2026
median
Public SaaS companies
Clouded Judgement: Software Valuations in the Age of AI Disruption →
36 months
Clouded Judgement
2026
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Compression and the Terminal Value Crisis →
36 months
Clouded Judgement
2026
median
Public SaaS companies
Clouded Judgement: The Year of Multi-Modal AI and SaaS Valuation Analysis →
36 months
Clouded Judgement
2026
median
Public SaaS companies
Clouded Judgement: Platform of Platforms →
36 months
Clouded Judgement
2026
median
Public SaaS companies
Clouded Judgement: The Education Advantage in AI →
36 months
Clouded Judgement
2026
median
Public SaaS companies
Clouded Judgement: Authority Is the AI Bottleneck →
5 months
High Alpha
2025
median
SaaS companies with <$1M ARR
2025 SaaS Benchmarks Report by High Alpha →
8 months
High Alpha
2025
median
SaaS companies with $1-5M ARR
2025 SaaS Benchmarks Report by High Alpha →
14 months
High Alpha
2025
median
SaaS companies with $5-20M ARR
2025 SaaS Benchmarks Report by High Alpha →
20 months
High Alpha
2025
median
SaaS companies with $20-50M ARR
2025 SaaS Benchmarks Report by High Alpha →
17 months
High Alpha
2025
median
SaaS companies with >$50M ARR
2025 SaaS Benchmarks Report by High Alpha →
36 months
Clouded Judgement
2025
median
SaaS companies at scale
Clouded Judgement: Exuberance Returning to Venture Markets in 2026 →
36 months
Clouded Judgement
2025
median
Public SaaS companies
Clouded Judgement: Systems of Record and the Battle for the AI Front Door →
12 months
drive.google.com
2025
maximum target
AI-native companies vs. 12-18 months for SaaS 1.0
The State of AI Report: December 2025 →
36 months
Clouded Judgement
2025
median
Public SaaS companies in sample
Clouded Judgement: Systems of Record in the Age of AI Agents →
35 months
Clouded Judgement
2025
median
Public cloud SaaS companies
Clouded Judgement: The Irrational Equity Valuation Game in Startup Hiring →
32 months
Clouded Judgement
2025
median
SaaS companies on gross profit basis
Clouded Judgement: Q3 2025 SaaS Earnings Check-In →
32 months
Clouded Judgement
2025
median
Public SaaS companies
Clouded Judgement: The AI Platform Wars →
24 months
KeyBanc
2025
median
Private SaaS companies in 2024; expected to improve to 22 months in 2025 and 18 months in 2026
KeyBanc Capital Markets & Sapphire Ventures 2025 SaaS Survey: AI-Driven Growth & Profitability Focus →
16 months
drive.google.com
2025
top-quartile
Software companies across all scales, 2025
State of Software 2025: Rethinking the Playbook - Annual Topline Growth and Operational Efficiency Report →
12 months
drive.google.com
2025
best-in-class
SaaS companies commanding premium multiples
SaaS Valuation Multiples: 2025 – A Comprehensive Analysis of Current Market Trends →
15 months
drive.google.com
2025
median
SaaS companies, 2025
SaaS Valuation Multiples: 2025 – A Comprehensive Analysis of Current Market Trends →
16.8 months
cdn.prod.website-files.com
2025
median
Seed-stage SaaS companies
2025 SaaS Growth Benchmarks Report →
9.6 months
cdn.prod.website-files.com
2025
median
Public SaaS companies
2025 SaaS Growth Benchmarks Report →
12 months
drive.google.com
2025
reference standard
Industry best practice benchmark
2025 B2B SaaS Performance Metrics Benchmarks Report →
11-100+ months
OnlyCFO
2025
Public SaaS companies
GTM Efficiency is Plummeting! FCF margins are improving...but efficiency is worsening? →
18 months
OnlyCFO
2025
target
Enterprise SaaS best-in-class benchmark
The True Cost of Churn: Quantifying Direct and Second-Order Revenue Impact in SaaS →
25 months
OnlyCFO
2025
Example software company in article
Lies of Churn Rates & Customer Lifetime Value →
45 months
Clouded Judgement
2025
median
Public SaaS companies
Clouded Judgement: M&A Roars Back →
37 months
Clouded Judgement
2025
median
Public SaaS companies
Clouded Judgement: Q4 2024 Software Earnings & SaaS Valuation Analysis →
37 months
Clouded Judgement
2025
median
Public SaaS companies (gross margin adjusted)
Clouded Judgement: December Inflation Data & SaaS Valuation Multiples →
37 months
Clouded Judgement
2025
median
SaaS companies using GM-adjusted methodology
Clouded Judgement: Rising Rates and SaaS Valuation Multiples in a High-Growth Environment →
37 months
Clouded Judgement
2024
median
Software universe
Clouded Judgement: Beat and No Raise? – SaaS Multiple Expansion Without Earnings Growth →
37 months
Clouded Judgement
2024
median
SaaS companies overall
Clouded Judgement: Are Software Valuations Cheap or Expensive? →
34 months
OnlyCFO
2024
median
Top-tier SaaS companies (ICONIQ portfolio), first half of 2024
Building Sales Commission Plans →
21 months
OnlyCFO
2024
median
Top-tier SaaS companies (ICONIQ portfolio), 2020
Building Sales Commission Plans →
6 months
OnlyCFO
2024
good
B2B Enterprise SaaS target benchmark
Building Sales Commission Plans →
12 months
OnlyCFO
2024
good
B2B SMB SaaS target benchmark
Building Sales Commission Plans →
18 months
OnlyCFO
2024
good
B2B Enterprise SaaS target benchmark
Building Sales Commission Plans →
41 months
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: Budget Flush and SaaS Valuation Dynamics →
20 months
KeyBanc
2024
median
Fully-loaded CAC payback, Private SaaS companies, 2024E
2024 KeyBanc Capital Markets & Sapphire Ventures SaaS Survey: Growth Deceleration and Profitability Focus →
14 months
KeyBanc
2024
top-quartile
Fully-loaded CAC payback, Private SaaS companies, 2024E
2024 KeyBanc Capital Markets & Sapphire Ventures SaaS Survey: Growth Deceleration and Profitability Focus →
2-3 years
OnlyCFO
2024
minimum
Required customer lifetime for business economics to work; customers must stay beyond this to justify ARR
Is ARR Dead? The Erosion of SaaS's North Star Metric in the Age of AI and Usage-Based Pricing →
6.0 months
OnlyCFO
2024
best-in-class
Historical benchmark for good payback; longer periods increasingly risky in 2024
Cloud Unit Economics in 2024: What Operators and Investors Need to Understand →
41 months
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: Fed Rate Cuts and SaaS Valuation Implications →
41 months
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: 2024 SaaS Guidance Raises at Historic Lows →
9 months shorter
OnlyCFO
2024
average
Vertical SaaS vs. horizontal SaaS, early-stage companies
Software's Future is Vertical: Financial & Operational Dynamics of Vertical SaaS →
23.4 months
Clouded Judgement
2024
average
OneStream 2023
OneStream: Benchmarking the S1 Data →
21.3 months
Clouded Judgement
2024
average
OneStream 2022
OneStream: Benchmarking the S1 Data →
53 months
Clouded Judgement
2024
median
Public software companies
Clouded Judgement: Declining Growth in Public SaaS →
53 months
Clouded Judgement
2024
median
Public SaaS companies at scale
Clouded Judgement: Can Subscale Software Companies Go Public? →
53 months
Clouded Judgement
2024
median
All public SaaS companies
Clouded Judgement: Is Seat-Based Pricing Dead? →
58 months
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: Budget Bifurcation in Enterprise Software Procurement →
45 months
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: SaaS Software Environment Remains Strained →
45 months
Clouded Judgement
2024
median
Public SaaS companies, fully-burdened basis
Clouded Judgement: April CPI Update & SaaS Valuation Analysis →
39 months
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: Hyperscaler Rebound vs. Software Guidance Misses in Q1 2024 →
39 months
Clouded Judgement
2024
median
Public SaaS companies (GM-adjusted)
Clouded Judgement: Azure AI Services Growth Signals Positive Infrastructure Software Outlook →
39 months
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: March CPI Update & SaaS Valuation Multiple Analysis →
39 months
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: Hype Rounds vs Fundamental Rounds + Macro Update →
12 months
OnlyCFO
2024
target
B2C SaaS benchmark
Is SaaS Math Broken? Adapting Unit Economics to New Churn Realities →
6 months
OnlyCFO
2024
target
B2C SaaS benchmark
Is SaaS Math Broken? Adapting Unit Economics to New Churn Realities →
18 months
OnlyCFO
2024
target
B2B SMB SaaS benchmark
Is SaaS Math Broken? Adapting Unit Economics to New Churn Realities →
12 months
OnlyCFO
2024
target
B2B SMB SaaS benchmark
Is SaaS Math Broken? Adapting Unit Economics to New Churn Realities →
24 months
OnlyCFO
2024
target
B2B Enterprise SaaS benchmark
Is SaaS Math Broken? Adapting Unit Economics to New Churn Realities →
18 months
OnlyCFO
2024
target
B2B Enterprise SaaS benchmark
Is SaaS Math Broken? Adapting Unit Economics to New Churn Realities →
138 months
OnlyCFO
2024
Q4 2023; driven by $2.6M new ARR vs $10M S&M spend
Is SaaS Math Broken? Adapting Unit Economics to New Churn Realities →
39 months
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: Q4 2023 SaaS Earnings Analysis & Valuation Multiples →
38 months
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: ERR vs ARR and the Conundrum of AI Revenue Streams →
38 months
Clouded Judgement
2024
median
Public SaaS companies at scale (cohort analysis)
Clouded Judgement: ERR vs ARR and the Conundrum of AI Revenue Streams →
38 months
Clouded Judgement
2024
median
Public SaaS companies, Q3 '23
Clouded Judgement: Q4 '23 SaaS Earnings Recap & Valuation Analysis →
37 months
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: 2024 SaaS Guidance vs. Consensus & Valuation Multiple Analysis →
38 months
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: Venture Market Froth and SaaS Valuation Reality Check →
38 months
Clouded Judgement
2024
median
Cloud software companies
Clouded Judgement: Rule of X and SaaS Valuation Multiplier Dynamics →
39 months
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: January Green Shoots, CPI Inflation, and SaaS Valuation Multiples →
38 months
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: Multiple Expansion Without Estimate Growth & SBC Dilution Trends →
38 months
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: Cloud Giants Report Q4'23 →
39 months
Clouded Judgement
2024
median
Public B2B SaaS companies (GM-adjusted)
Clouded Judgement: Q4 Earnings Season Kicks Off with ServiceNow →
39 months
Clouded Judgement
2024
median
Public SaaS companies (comprehensive benchmark set)
Clouded Judgement: The Bar for Going Public →
12 months
OnlyCFO
2024
target
Enterprise SaaS companies considered 'great' performers
Creating a Sales Commission Plan: Best Practices for SaaS →
6 months
OnlyCFO
2024
target
Mid-market SaaS companies considered 'great' performers
Creating a Sales Commission Plan: Best Practices for SaaS →
39 months
Clouded Judgement
2024
median
SaaS companies at scale (public comps)
Clouded Judgement: The 2021 Funding Reckoning and Path to Founder-Friendly Venture →
39 months
Clouded Judgement
2024
median
SaaS public companies on gross profit basis
Clouded Judgement: SaaS Valuation Multiples and Fed Rate Sensitivity (January 2024) →
39 months
Clouded Judgement
2024
median
SaaS basket (80 companies) - gross margin adjusted
Clouded Judgement: SaaS Valuation Multiples and Fed Rate Sensitivity (January 2024) →
39 months
Clouded Judgement
2023
median
Public SaaS companies in tracked index
Clouded Judgement: 2023 Year-End SaaS Valuation & Performance Analysis →
39 months
Clouded Judgement
2023
median
SaaS companies at scale
Clouded Judgement: November 2023 Macro Update & SaaS Valuation Multiples Analysis →
39 months
Clouded Judgement
2023
median
Public SaaS companies, Q3 2023
Clouded Judgement: Q3 2023 SaaS Earnings Preview & Valuation Analysis →
36 months
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Net New ARR Rebound & AWS ReInvent 2023 Implications →
23 months
KeyBanc
2023
median
Private SaaS companies, 2022
2023 KeyBanc Capital Markets & Sapphire Ventures SaaS Survey: A Shift Towards Efficient Execution and Profitability →
24 months
KeyBanc
2023
median
Private SaaS companies, historical average
2023 KeyBanc Capital Markets & Sapphire Ventures SaaS Survey: A Shift Towards Efficient Execution and Profitability →
35 months
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: AI Monetization Layers & SaaS Valuation Inflection →
35 months
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: No Sign of Re-Acceleration in Software →
35 months
Clouded Judgement
2023
median
Public SaaS companies at scale
Clouded Judgement: Cloud Giants Q3 2023 Report & SaaS Valuation Reality Check →
35 months
Clouded Judgement
2023
median
Gross margin-adjusted CAC payback for public SaaS
Clouded Judgement: Hyperscaler Cloud Growth & SaaS Valuation Multiples Analysis →
35 months
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: 2024 Budget Expectations & SaaS Valuation Multiples →
35 months
Clouded Judgement
2023
median
Public SaaS companies using gross margin adjusted calculation
Clouded Judgement: Fed Rate Projections & SaaS Valuation Multiples →
35 months
Clouded Judgement
2023
median
Public SaaS companies (gross margin adjusted)
Clouded Judgement: Interest Rate Risk & SaaS Valuation Compression →
35 months
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Medium-Term Software Valuation Setup →
40 months
Clouded Judgement
2023
median
Gross margin adjusted CAC payback for public SaaS companies
Clouded Judgement: Are Software Companies Over or Undervalued? →
29 months
Clouded Judgement
2023
Klaviyo; calculated as (Previous Q S&M / Net New ARR x Gross Margin) x 12
Clouded Judgement: Klaviyo S-1 Benchmarking Analysis →
6-24 months
OnlyCFO
2023
target
B2B Enterprise SaaS; Exceptional = 6 months, Great = 12 months, Good = 18 months, OK = 24 months
Cloud Unit Economics: Why High Cash-Burning Cloud Companies Might Make Sense →
6-18 months
OnlyCFO
2023
target
B2B SMB SaaS; Exceptional = On first purchase, Great = 6 months, Good = 12 months, OK = 18 months
Cloud Unit Economics: Why High Cash-Burning Cloud Companies Might Make Sense →
1-12 months
OnlyCFO
2023
target
B2C SaaS; Exceptional = On first purchase, Great = 1 month, Good = 6 months, OK = 12 months
Cloud Unit Economics: Why High Cash-Burning Cloud Companies Might Make Sense →
47 months
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Q2 SaaS Earnings Review & Valuation Multiple Analysis →
48 months
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Cloud Giants Q2 Update →
48 months
Clouded Judgement
2023
median
Public SaaS companies on gross profit basis
Clouded Judgement: Cloud Giants Q2 Update →
57 months
Clouded Judgement
2023
median
SaaS businesses using subscription revenue models
Clouded Judgement: Cloud Infrastructure Optimization Cycles & Soft Landing Macro Outlook →
57 months
Clouded Judgement
2023
median
Public SaaS companies in basket
Clouded Judgement: Are Software Companies Bad Businesses? →
57 months
Clouded Judgement
2023
median
SaaS companies (GM-adjusted)
Clouded Judgement: Rising Rates and SaaS Valuation Multiples →
57 months
Clouded Judgement
2023
median
Public SaaS companies, gross margin adjusted
Clouded Judgement: Q1 2023 SaaS Earnings Trends and Valuation Multiple Analysis →
57 months
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Growth-Adjusted Software Multiples and Valuation Reset →
57 months
Clouded Judgement
2023
median
Public SaaS companies analyzed in cohort
Clouded Judgement: Q1 2023 Cloud Software Consumption Trends →
49 months
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Q1 2023 SaaS Net New ARR Slowing & Demand Environment Divergence →
41 months
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: May 2023 Cloud Software Consumption Trends →
38 months
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Q1 2023 SaaS Earnings Reflections →
30 months
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: 2023 Full Year Guidance Update & SaaS Valuation Analysis →
37 months
Clouded Judgement
2023
median
Public SaaS companies (gross margin adjusted)
Clouded Judgement: Consumption Software Slowdown & Q1 2023 Reacceleration Signals →
30 months
Clouded Judgement
2023
median
Public SaaS companies tracked in article
Clouded Judgement: Hyperscaler Q1 Reports & The AWS April Growth Cliff →
30 months
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Hyperscaler Q1 2023 Preview & SaaS Valuation Multiple Analysis →
30 months
Clouded Judgement
2023
median
SaaS companies in benchmark sample
Clouded Judgement: Hyperscaler Q1 2023 Preview & SaaS Valuation Multiple Analysis →
30 months
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Q4 '22 Net New ARR Slowdown & Cloud Optimization Headwinds →
30 months
Clouded Judgement
2023
median
Public SaaS companies, gross margin-adjusted
Clouded Judgement: IT Budget Sentiment Stabilizing Amid SaaS Growth Deceleration →
30 months
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: How Will AI Effect Software Business Models? →
11 months
KeyBanc
2022
median
Gross margin basis
2022 Private SaaS Company Survey Results - KeyBanc Capital Markets →
17 months
KeyBanc
2022
median
Gross margin basis
2022 Private SaaS Company Survey Results - KeyBanc Capital Markets →
27 months
Clouded Judgement
2022
median
Public cloud software companies
Clouded Judgement →
23 months
Clouded Judgement
2022
median
Top 10 SaaS companies by market cap, April 2022
Clouded Judgement: Q1 GDP Recession Signals & SaaS Valuation Resilience →
23 months
Clouded Judgement
2022
median
Public SaaS companies
Clouded Judgement: Q1 2022 SaaS Valuation Compression and Forward Guidance Risk →
23 months
Clouded Judgement
2022
median
Public SaaS companies
Clouded Judgement →
12 months
Clouded Judgement
2022
target
Private SaaS companies
Clouded Judgement: Q4 '21 Public Cloud Software Earnings Analysis →
24 months
Clouded Judgement
2022
target
Private SaaS companies
Clouded Judgement: Q4 '21 Public Cloud Software Earnings Analysis →
23 months
Clouded Judgement
2022
median
Public SaaS companies (gross margin adjusted)
Clouded Judgement →
23 months
Clouded Judgement
2022
median
Public SaaS companies on gross profit basis, April 2022
Clouded Judgement →
23 months
Clouded Judgement
2022
median
Public SaaS companies
Clouded Judgement →
23 months
Clouded Judgement
2022
median
Public SaaS cohort (GM-adjusted basis)
Clouded Judgement: Inflation, Rate Risk, and SaaS Valuation Multiples →
24 months
Clouded Judgement
2022
median
Public SaaS on gross margin adjusted basis
Clouded Judgement: SaaS Valuation Multiples & Market Risk-Off Dynamics →
24 months
Clouded Judgement
2022
median
Public SaaS cohort (gross margin adjusted)
Clouded Judgement →
24 months
Clouded Judgement
2022
median
Public SaaS companies
Clouded Judgement: COVID Pull Forward vs. Durable Trend in Cloud Software Valuations →
24 months
Clouded Judgement
2022
median
Public SaaS companies
Clouded Judgement →
25 months
Clouded Judgement
2022
median
Public SaaS companies (Feb 2022)
Clouded Judgement: SaaS Valuation in the Face of Fed Rate Hikes and Inflation →
25 months
Clouded Judgement
2022
median
Gross-margin-adjusted basis for public SaaS
Clouded Judgement: SaaS Valuation in the Face of Fed Rate Hikes and Inflation →
24 months
Clouded Judgement
2022
median
Public SaaS companies
Clouded Judgement →
25 months
Clouded Judgement
2022
median
Public SaaS companies
Clouded Judgement: Cloud SaaS Valuation Multiple Compression & Fundamental Performance Disconnect →
25 months
Clouded Judgement
2022
median
Public SaaS companies (GM-adjusted)
Clouded Judgement: SaaS Multiple Compression & Earnings Season Risk in Rising Rate Environment →
25 months
Clouded Judgement
2022
median
Public SaaS companies on gross profit basis
Clouded Judgement →
25 months
Clouded Judgement
2022
median
Public SaaS companies, January 2022
Clouded Judgement: SaaS Valuation Multiple Compression & Growth-Adjusted Analysis (Jan 2022) →
9 months
Clouded Judgement
2021
maximum
Top decile SaaS companies, gross margin-adjusted basis
Clouded Judgement: Q3 2021 SaaS Earnings Recap & Valuation Multiple Analysis →
25 months
Clouded Judgement
2021
median
SaaS cohort overall
Clouded Judgement: Q3 2021 SaaS Earnings Recap & Valuation Multiple Analysis →
25 months
Clouded Judgement
2021
median
Public SaaS cohort customer acquisition cost payback
Clouded Judgement →
25 months
Clouded Judgement
2021
median
Public SaaS companies, gross margin-adjusted basis
Clouded Judgement →
25 months
Clouded Judgement
2021
median
SaaS companies (gross margin-adjusted)
Clouded Judgement →
18 months
Clouded Judgement
2021
gross margin adjusted
Samsara LTM S&M expense basis
Clouded Judgement: Samsara S-1 Benchmarking Analysis →
25 months
Clouded Judgement
2021
median
Public SaaS cohort, gross profit basis
Clouded Judgement →
25 months
Clouded Judgement
2021
median
Public SaaS companies on gross margin-adjusted basis
Clouded Judgement →
23 months
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
under 12 months
Clouded Judgement
2021
Braze gross margin-adjusted CAC payback using quarterly S&M and net new ARR
Braze: Benchmarking the S-1 Data →
25 months
Clouded Judgement
2021
median
Public cloud software companies (Q3 2021)
Clouded Judgement →
25 months
Clouded Judgement
2021
median
SaaS companies on gross-margin-adjusted basis
Clouded Judgement →
25 months
Clouded Judgement
2021
median
Public SaaS companies on gross profit basis
Clouded Judgement →
25 months
Clouded Judgement
2021
median
SaaS market broad benchmark
Clouded Judgement: Interest Rate Impact on Cloud Software Valuation & SaaS Benchmarks →
25 months
Clouded Judgement
2021
median
Public SaaS companies on gross profit basis
Clouded Judgement: SBC Benchmarking and SaaS Valuation Multiples Analysis →
25 months
Clouded Judgement
2021
median
Public SaaS companies (gross profit adjusted)
Clouded Judgement: SBC Benchmarking and SaaS Valuation Multiples Analysis →
18 months
Clouded Judgement
2021
gross margin-adjusted
GitLab most recent quarter pre-IPO
Clouded Judgement: GitLab S-1 Benchmarking Analysis →
25 months
Clouded Judgement
2021
median
Public SaaS companies (gross margin-adjusted)
Clouded Judgement →
25 months
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: Cloud SaaS Valuation Multiples & Operating Metrics Analysis →
25 months
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
24 months
Clouded Judgement
2021
average
Freshworks, calculated from 4 quarters pre-IPO
Freshworks: Benchmarking the S-1 Data →
24 months
Clouded Judgement
2021
Freshworks using average of 4 quarters preceding IPO
Freshworks: Benchmarking the S-1 Data →
18 months
Clouded Judgement
2021
average
Amplitude; gross margin adjusted; 4-quarter average pre-IPO
Amplitude S-1 Analysis: Benchmarking Digital Optimization SaaS Metrics →
25 months
Clouded Judgement
2021
median
Public SaaS companies on gross profit basis
Clouded Judgement: Q2 2021 SaaS Growth Acceleration & Valuation Analysis →
25 months
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Multiples & Growth Correlation Analysis →
25 months
Clouded Judgement
2021
median
Public SaaS companies on gross-profit basis as of Aug 2021
Clouded Judgement →
28 months
Clouded Judgement
2021
median
Public SaaS companies on gross margin-adjusted basis
Clouded Judgement →
25 months
Clouded Judgement
2021
median
Public SaaS companies on fully burdened gross profit basis
Clouded Judgement →
25 months
Clouded Judgement
2021
median
Public SaaS companies (gross margin-adjusted)
Clouded Judgement →
25 months
Clouded Judgement
2021
median
SaaS public companies
Clouded Judgement →
24 months
Clouded Judgement
2021
median
Public SaaS companies (fully-loaded basis)
Clouded Judgement: SaaS Valuation Multiples & Operating Metrics Analysis →
24 months
Clouded Judgement
2021
median
Public SaaS companies as of July 2021
Clouded Judgement →
24 months
Clouded Judgement
2021
median
Gross-margin adjusted, public SaaS companies
Clouded Judgement →
24 months
Clouded Judgement
2021
median
Public SaaS companies on gross profit basis
Clouded Judgement →
23 months
Clouded Judgement
2021
median
Public SaaS companies (gross profit basis)
Clouded Judgement →
23 months
Clouded Judgement
2021
median
SaaS companies, gross profit basis
Clouded Judgement →
22 months
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Multiples & Earnings Analysis (June 2021) →
22 months
Clouded Judgement
2021
median
Public SaaS companies on gross margin-adjusted basis
Clouded Judgement: SaaS Valuation Multiples & Earnings Analysis (June 2021) →
39 months
Clouded Judgement
2021
average
Confluent 4-quarter average pre-IPO
Confluent S-1 IPO Analysis: SaaS Benchmarking & Unit Economics →
22 months
Clouded Judgement
2021
median
Public SaaS companies in analysis set
Clouded Judgement →
22 months
Clouded Judgement
2021
median
SaaS public company cohort (gross profit basis)
Clouded Judgement →
22 months
Clouded Judgement
2021
median
Public SaaS companies (gross margin adjusted)
Clouded Judgement →
22 months
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
22 months
Clouded Judgement
2021
median
SaaS public company peer set
Clouded Judgement: SaaS Valuation Multiples Analysis (May 2021) →
21 months
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
20 months
Clouded Judgement
2021
median
SaaS peer group on subscription revenue basis
Clouded Judgement: SaaS Valuation Multiples & Earnings Season Analysis (April 30, 2021) →
20 months
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Multiples & Earnings Season Analysis (April 30, 2021) →
19 months
Clouded Judgement
2021
median
Public SaaS companies (gross-margin adjusted basis)
Clouded Judgement →
20 months
Clouded Judgement
2021
median
Gross-margin adjusted SaaS companies
Clouded Judgement: SaaS Valuation Multiples & Treasury Yield Correlation →
20 months
Clouded Judgement
2021
median
Public SaaS companies (gross margin adjusted)
Clouded Judgement: SaaS Valuation Multiples & Treasury Yield Correlation →
21 months
Clouded Judgement
2021
median
Public SaaS companies (gross-margin adjusted)
Clouded Judgement →
21 months
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Multiples and Treasury Correlation Analysis →
21 months
Clouded Judgement
2021
median
Public SaaS cohort GM-adjusted basis (April 2021)
Clouded Judgement: SaaS Valuation Multiples and Treasury Correlation Analysis →
22 months
Clouded Judgement
2021
median
UiPath; around the median for SaaS companies with gross margin adjustment
UiPath S-1 Financial Benchmarking Analysis: Pre-IPO Metrics & Cloud SaaS Comparison →
21 months
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
21 months
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
21 months
Clouded Judgement
2021
median
Gross margin-adjusted, public SaaS companies
Clouded Judgement →
29 months
Clouded Judgement
2021
average
Procore four quarters preceding IPO
Clouded Judgement: Procore S-1 Benchmarking Analysis →
22 months
Clouded Judgement
2021
median
Public SaaS companies (gross-margin adjusted)
Clouded Judgement: SaaS Valuation Analysis & Okta-Auth0 M&A (Mar 2021) →
23 months
Clouded Judgement
2021
median
Public SaaS companies, gross-profit-adjusted
Clouded Judgement: SaaS Valuation Multiples & Operating Metrics Analysis (Feb 2021) →
22 months
Clouded Judgement
2021
median
Public SaaS companies, gross profit basis
Clouded Judgement: SaaS Valuation Metrics & Weekly Earnings Summary →
23 months
Clouded Judgement
2021
median
Public SaaS companies (gross profit basis)
Clouded Judgement: SaaS Valuation Multiples & Quarterly Performance Analysis (Feb 2021) →
24 months
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Multiples & Earnings Analysis (Feb 5, 2021) →
24 months
Clouded Judgement
2021
median
Public SaaS companies, January 2021
Clouded Judgement →
24 months
Clouded Judgement
2021
median
Public SaaS companies, fully-loaded including S&M
Clouded Judgement: SaaS Valuation Multiples & Operating Metrics Analysis (Jan 2021) →
24 months
Clouded Judgement
2021
median
Public SaaS cohort
Clouded Judgement →
24 months
Clouded Judgement
2020
median
Public SaaS companies
Clouded Judgement: SaaS Valuation & Acceleration Analysis (Q3 2020) →
24 months
Clouded Judgement
2020
median
SaaS cohort
Clouded Judgement →
24 months
Clouded Judgement
2020
median
Public SaaS companies
Clouded Judgement →
25 months
Clouded Judgement
2020
median
Public SaaS companies (gross margin-adjusted)
Clouded Judgement: SaaS Growth Trajectories and Valuation Multiples Analysis →
25 months
Clouded Judgement
2020
median
Public SaaS companies
Clouded Judgement →
26 months
Clouded Judgement
2020
median
Public SaaS companies on gross margin-adjusted basis
Clouded Judgement: SaaS Valuation and Earnings Analysis (November 2020) →
26 months
Clouded Judgement
2020
median
Public SaaS companies
Clouded Judgement: Q3 2020 SaaS Earnings & Valuation Multiple Analysis →
29 months
Clouded Judgement
2020
median
Public SaaS companies
Clouded Judgement →
29 months
Clouded Judgement
2020
median
Public SaaS companies, October 2020
Clouded Judgement →
32 months
Clouded Judgement
2020
median
SaaS benchmarking cohort
Clouded Judgement →
32 months
Clouded Judgement
2020
median
Tracked SaaS companies
Clouded Judgement →
32 months
Clouded Judgement
2020
median
SaaS unit economics
Clouded Judgement →
19 months
Clouded Judgement
2020
top-quartile
Public SaaS companies reporting subscription revenue
Clouded Judgement: A Look Back at Q2 Public SaaS Earnings →
15 months
Clouded Judgement
2020
top-decile
Public SaaS companies reporting subscription revenue
Clouded Judgement: A Look Back at Q2 Public SaaS Earnings →
32 months
Clouded Judgement
2020
median
Public SaaS companies
Clouded Judgement →
32 months
Clouded Judgement
2020
median
SaaS cohort
Clouded Judgement →
29 months
Clouded Judgement
2020
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Trends & Direct Listing Reform →
24 months
Clouded Judgement
2020
above median
Asana vs. SaaS universe
Asana: Benchmarking the S-1 Data →
14 months
Clouded Judgement
2020
average
Sumo Logic 4-quarter average pre-IPO
Sumo Logic S-1 Analysis: Pre-IPO Benchmarking & Valuation Prediction →
29 months
Clouded Judgement
2020
median
SaaS cohort, August 2020
Clouded Judgement →
29 months
Clouded Judgement
2020
median
Median across public SaaS cohort
Clouded Judgement →
29 months
Clouded Judgement
2020
median
SaaS cohort August 2020
Clouded Judgement →
28 months
Clouded Judgement
2020
median
Broader SaaS cohort (Q2 2020)
Clouded Judgement →
28 months
Clouded Judgement
2020
median
SaaS market as of July 2020
Clouded Judgement →
28 months
Clouded Judgement
2020
median
Public SaaS companies as of July 2020
Clouded Judgement →
28 months
Clouded Judgement
2020
median
SaaS companies in analyzed cohort
Clouded Judgement →
28 months
Clouded Judgement
2020
median
SaaS cohort (Jul 2020)
Clouded Judgement →
25 months
Clouded Judgement
2020
median
SaaS IPO candidates (36 companies)
Clouded Judgement →
29 months
Clouded Judgement
2020
median
Public SaaS companies (week of June 26, 2020)
Clouded Judgement →
29 months
Clouded Judgement
2020
median
SaaS market overall
Clouded Judgement →